Tag: GST Registration

Categories
Business motivation

GST Portal: Know Everything About GST Portal, Registration Process, And Documents Required

Goods And Services Tax (GST) was introduced back in 2017 and has now emerged as one of the biggest tax reforms ever. This tag of the biggest tax reform ever has been rightfully earned by GST as this has not only reduced the overall cost of goods and services but also has saved businesses a lot of complications with the whole process of filing returns for getting the registration done in the first place. 

This article is entirely dedicated to the GST portal that the government introduced to uncomplicate the process with great help from technology. 

What Is The Process To Register For GST?

  • The very first step is to open the GST portal and then clicking on Services. After that select “registration” to finally get your hands on new registration.
  • You will now be asked to fill in the details in PART A. These details are
  1. In the drop-down under ‘I am a’ – select Taxpayer
  2. Select State and District from the drop-down
  3. Enter the Name of Business and PAN of the business
  4. Key in the Email Address and Mobile Number. The registered email id and mobile number will receive the OTPs.
  5. Click on Proceed
  • On both your email address and mobile number, you will receive OTPs. You will have to submit these necessary OTPs in order to process further
  • You will now receive TRN (temporary reference number) on again both your email address and phone number. Save this reference number for the later formalities. You will also see the next part of the details to fill in the form of PART-B for which you will have the next 15 days.
  • Now go to the GST portal, again and again, select the new registration option where you will be asked to submit the TRN. Submit the number and click on proceed.
  • At this point you will receive an OTP both on your email address and mobile number. Submit the OTP to go further. After this, the current status of your application will be shown as a draft. On the right-hand side, you will see the edit icon, click on that to proceed further to complete the PART B details.
  • You will be asked to provide the necessary documents. To make sure the process goes smoothly and conveniently. Please have these things ready
  1. Photographs
  2. Constitution of the taxpayer
  3. Proof for the place of business
  4. Bank account details*
  5. Verification and Aadhaar authentication, if chosen
  • Once all details are provided, please go to the verification option. Tick on the declaration and submit the application.
  • If all things have been done successfully, a message will be displayed thereafter showing that the application has been submitted successfully and you will receive the Application Reference Number on your email and mobile.
Documents Required

Additionally, ensure that before you enroll on the GST portal, you have the following information with you:

  • Provisional ID and Password received from VAT authority
  • Valid email address
  • Valid Mobile Number
  • Bank Account Number
  • Bank IFSC code
  • Proof of Registration of Business (Shop Establishment Certificate in case of Proprietorship, Partnership Deed in case of Companies and Memorandum of Association for Companies)

The GST is now a very integral part of the Indian Taxation system as GST is paid by anyone and everyone who is an eligible taxpayer and a citizen of India. If you have still not registered for GST, we hope the process that we have shared with you made things a bit easy in terms of overall understanding and execution.

Categories
Technology

Aadhaar Authentication to Help Businesses Get GST Registration Within 3 Days

Aadhaar For All (Photo Credits: Facebook)

In what is believed to be a major boost for businesses in India, the businesses that provide Aadhaar number while applying for registration under the Goods and Services Tax (GST) will get the approval in three working days. Last week, the Central Board of Indirect Taxes and Customs (CBIC) had notified Aadhaar authentication for GST registration with effect from August 21, 2020. The notification also provides that in case businesses do not provide Aadhaar number, then GST registration would be granted only after physical verification of the place of business.

Sources believe that the Aadhaar authentication is expected to facilitate genuine and honest taxpayers while at the same time keeping fake and fraudulent entities away from GST.

Two important things to know:

  1. For a person opting for Aadhaar authentication for new GST registration would get it within just three working days, if no notice is issued and would not need to wait for physical verification.
  2. While applicants not opting for Aadhaar authentication for GST registration would be granted it only after physical verification of the place of business or documentary verification which may take up to 21 working days or more if notice is issued, sources said.

According to a report by PTI, sources of the Finance Ministry said the GST Council in its 39th meeting held on March 14, 2020, had approved operationalisation of Aadhaar authentication for new taxpayers. However, its implementation was postponed due to the lockdown on account of COVID-19 pandemic.

Sources further said that keeping the COVID-19 pandemic in view, it has been provided that the officer may, if the circumstances warrant, opt for asking for additional documents in lieu of the pre-registration for physical verification of the premises.

Categories
Process & Business Expansion Startup

GST Registration Applicants Can Opt for Aadhaar Verification Or be Ready for Physical Inspection of Place of Business, Says CBIC

जीएसटी
जीएसटी

New Delhi, August 22: The Central Board of Indirect Taxes and Customs (CBIC) on Friday issued a circular stating that businesses can opt Aadhaar verification for registration of Goods and Services Tax or else be ready for physical verification of the place of business. Usually, physical verification takes 21 days, while the verification through Aadhaar can be done in 3 days.

Issuing a notification, CBIC directed that the new applicants can opt for the authentication of Aadhaar number while applying for GST registration. The new notification will be effective from August 21. However, the government stated that the applicant will have to undertake the said authentication while applying for GST registration.

The notification stated, “Where a person… fails to undergo authentication of Aadhaar number or does not opt for authentication of Aadhaar number, the registration shall be granted only after physical verification of the place of business in the presence of the said person.”

As per details, the linkage of Aadhaar with GST and PAN (permanent account number) would help the government build centralised database available facilitating data analytics and help in checking tax evasion. With this, the GST registration can be granted within 3 days without a physical inspection of the premises.